Economy Puts the Brakes on Hybrid Sales despite Government Pushing Pedal to the Metal
Nicolas Loris /
Government mandates, preferences and subsidies don’t work. Here’s another example.
When gas prices hit record levels over the summer, companies were furiously pumping out oil to meet surging global demand. As the economy took a turn for the worse and demand slowed, there was a noticeable lag as companies continued to supply oil at a high rate, bringing the price down even further.
A similar phenomenon is happening with hybrid car sales. Wes Brown, a partner at Los Angeles-based market research firm Iceology, told the Los Angeles Times: